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Barrick Gold (GOLD) Stock Moves -1.73%: What You Should Know
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Barrick Gold (GOLD - Free Report) closed at $24.49 in the latest trading session, marking a -1.73% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.97%. Elsewhere, the Dow lost 2.57%, while the tech-heavy Nasdaq lost 3.47%.
Prior to today's trading, shares of the gold and copper mining company had gained 47.19% over the past month. This has outpaced the Basic Materials sector's gain of 25.97% and the S&P 500's gain of 22.85% in that time.
Investors will be hoping for strength from GOLD as it approaches its next earnings release, which is expected to be May 6, 2020. On that day, GOLD is projected to report earnings of $0.17 per share, which would represent year-over-year growth of 54.55%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.76 billion, up 31.73% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $0.77 per share and revenue of $11.23 billion. These results would represent year-over-year changes of +50.98% and +15.55%, respectively.
Any recent changes to analyst estimates for GOLD should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.41% higher within the past month. GOLD is currently a Zacks Rank #2 (Buy).
Digging into valuation, GOLD currently has a Forward P/E ratio of 32.21. This represents a premium compared to its industry's average Forward P/E of 18.35.
It is also worth noting that GOLD currently has a PEG ratio of 16.1. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Mining - Gold was holding an average PEG ratio of 2.82 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 13, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GOLD in the coming trading sessions, be sure to utilize Zacks.com.
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Barrick Gold (GOLD) Stock Moves -1.73%: What You Should Know
Barrick Gold (GOLD - Free Report) closed at $24.49 in the latest trading session, marking a -1.73% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.97%. Elsewhere, the Dow lost 2.57%, while the tech-heavy Nasdaq lost 3.47%.
Prior to today's trading, shares of the gold and copper mining company had gained 47.19% over the past month. This has outpaced the Basic Materials sector's gain of 25.97% and the S&P 500's gain of 22.85% in that time.
Investors will be hoping for strength from GOLD as it approaches its next earnings release, which is expected to be May 6, 2020. On that day, GOLD is projected to report earnings of $0.17 per share, which would represent year-over-year growth of 54.55%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.76 billion, up 31.73% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $0.77 per share and revenue of $11.23 billion. These results would represent year-over-year changes of +50.98% and +15.55%, respectively.
Any recent changes to analyst estimates for GOLD should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.41% higher within the past month. GOLD is currently a Zacks Rank #2 (Buy).
Digging into valuation, GOLD currently has a Forward P/E ratio of 32.21. This represents a premium compared to its industry's average Forward P/E of 18.35.
It is also worth noting that GOLD currently has a PEG ratio of 16.1. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Mining - Gold was holding an average PEG ratio of 2.82 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 13, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GOLD in the coming trading sessions, be sure to utilize Zacks.com.